Global Earnings Show Shift From US as S&P 500 Slumped

As the latest earnings season wraps, investors could be forgiven for missing some of the fireworks, what with AI’s stranglehold on the market narrative, geopolitical angst and renewed trade uncertainty.

But the quarterly ritual highlighted some key themes that stand to shape the rest of the year in equity markets. While profits boomed in the US, the rest of the world wasn’t shabby either, undergirding calls to diversify away from American stocks into megacaps in Asia and Europe. And though the US delivered a solid quarter, the results were mixed and, in many cases, received poorly amid worries that growth rates might have peaked.